Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-10-20-Speech-2-066"
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"en.20091020.5.2-066"2
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"Madam President, I am concerned that the Commission’s calculations on international climate finance are just smoke and mirrors.
First, it has claimed that 90% of energy efficiency measures can be financed by developing countries themselves. That is EUR 30 billion per annum. In the EU, the biggest obstacle to introducing energy efficiency measures for both governments and for individual citizens is the lack of upfront financing. Why does the Commission believe that developing countries can finance efficiency measures without upfront funding when EU Member States themselves have struggled to do so?
Also, the idea that the international carbon market can fund EUR 38 billion a year is unrealistic. We have seen how slow the EU ETS carbon market has been to get off the ground and how badly the carbon price has been thrown off course by the economic crisis. It is likely to be many decades before there is a properly functioning international carbon market, so we need a new and additional financing measure now."@en1
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